According to Foresight News, Defiance, an ETF issuer, has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch two new ETFs based on basis trading. One ETF will be linked to Bitcoin, with the ticker symbol NBIT, and the other to Ethereum, with the ticker symbol DETH. The Bitcoin ETF plans to invest in funds similar to BlackRock's IBIT and short Bitcoin futures on the Chicago Mercantile Exchange (CME). The expected returns will be derived from the price difference between the two markets, influenced by factors such as volatility and demand dynamics.

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